Global Rigid Packaging Market Information by Materials (Metals, Plastics, Glass, Paperboard, and Others), by Product (Bottles, Cups & Tubs, Trays and Others), by Application (Food & Beverage, Healthcare, Personal Care, Consumer Goods, and Others), and by Region (North America, Europe, APAC and ROW) – Forecast To 2022
Amcor Limited, Bemis Company Inc., Berry Plastics Corporation, 3M Company, Ball Corporation, Ardagh Group, Tray Pack Corporation, Nampak Ltd., DS Smith Plc., and Sealed Air Corporation are some of the prominent players at the forefront of competition in the global rigid packaging market and are profiled in MRFR Analysis.
Global Rigid Packaging Market – Overview
The rigid packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by growth in food & beverage industry, pharmaceutical industry, along with increasing disposable income and changing consumer preference. The rising demand for preserved food items and ready-to-cook meals in the era of changing lifestyles has become the reason for the growth of the packaging market. In the recent years the demand for safe and healthy foods has been driving the market. Therefore, materials like metals, plastics, glass, paperboard, pulp, wood, timber, and paper pallets are expected to be in demand. Food and beverages is the dominant industry in the global rigid packaging market.
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The continuous growth of the food & beverage is fuelling the overall growth of the rigid packaging market. The packaged food market is expected to grow due to the rise in demand for packaged foods & beverages, and frozen foods. The increase in consumer income in countries such as China, India, and Brazil, has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, ultimately leading to the increase in packaged food products.
In developing countries such as China, India, Indonesia, Thailand, Vietnam, and Mexico is having largest disposable income, due to which there is a significant growth in the manufacturing and service industry. The higher disposable income in these developing countries results in the increase in purchasing power. As a result rigid packaging market has been impacted positively.
Global Rigid Packaging Market – Competitive Analysis
The market is characterized by the presence of several medium and small players. Rigid packaging appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period.
In May, 2017 Amcor, a global leader in responsible packaging solutions, announced an expansion of its specialty container business in the Latin American region. Plasticos Team S.A.S. (Plasticos Team) has been acquired from Team Foods Colombia S.A. (Team Foods), a leading food producer in Colombia. This acquisition expands Amcor’s specialty container product offering in Latin America with the addition of new capabilities including thin wall injection moulding and in-mould labelling. Amcor currently has three Rigid Plastics packaging plants in Colombia, including one plant in close proximity to Guachene.
In 2016, Bemis Company, Inc. announced that it has completed the acquisition of the medical device packaging operations and related value-added services of SteriPack Group, a global manufacturer of sterile packaging solutions for medical device and pharmaceutical applications. This acquisition includes a facility in Ireland as well as packaging production assets in Malaysia and the United States. These operations recorded annual net sales of approximately US$65 million in fiscal 2015. SteriPack Group will continue to independently own and operate its contract manufacturing services business. Details of the transaction were not disclosed.
In 2017, Berry Global Group, Inc. announced agreement to acquire the Clopay Plastic Products Company, Inc., from Griffon Corporation. Clopay is a global supplier of printed breathable films as well as an innovator in the development of elastic films and laminates with product offerings uniquely designed for applications used in a number of markets including; hygiene, healthcare, construction and industrial protective apparel. The proposed acquisition of Clopay is directly aligned with the company’s fundamental strategic initiatives. The combination of Clopay with Berry’s Health, Hygiene, and Specialties division broadens their position within the faster growing health and hygiene markets. Clopay is expected to bring Berry new capabilities in the production of technical films, where they are a known innovator with patent protected breathable hygiene films.
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Global Rigid Packaging Market – Segments
Global rigid packaging Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Material : Comprises – Metals, Plastics, Glass, Paperboard, and Others
Segmentation By Product : Comprises – Bottles, Cups & Tubs, Trays and Others
Segmentation By Application : Comprises – Food & Beverage, Healthcare, Personal Care, Consumer Goods, and Others
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Rigid Packaging Market – Regional Analysis
Asia-Pacific is expected to show a very high rate of growth in demand for rigid packaging over the coming years, owing to rising disposable incomes and the booming e-commerce industry. The rigid packaging market in developing countries such as China and India are estimated to grow at a high rate in the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with increase in online shopping and rapid urbanization.
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